Nazara reports record Q2FY27: revenue up 53% to INR 803 crore, EBITDA up 93% to INR 120 crore

By PNI Admin On Oct 27, 2026

Mumbai: Nazara Technologies Limited (“Nazara” or “the Company”) today announced its financial results for the quarter and half year ended 30 September 2026. The quarter marks a defining step in Nazara’s evolution into a global gaming platform, one that combines a portfolio of owned game IPs across mobile, PC & console and offline, shared group capabilities in marketing, data, product and technology, and disciplined capital allocation. Q2FY27 is the first quarter to include Bluetile and BestPlay, consolidated from 1st August 2026.

Record quarter

Nazara reported its highest-ever quarterly revenue of INR 803 crore, up 53% YoY. EBITDA grew 93% to INR 120 crore, and EBITDA margin expanded 311 bps to 14.9%. Profit after tax from continuing operations was INR 35 crore, compared with a loss of INR 34 crore in Q2FY26. For H1FY27, revenue grew 20% to INR 1,232 crore and EBITDA grew 52% to INR 166 crore.

A focused, profitable gaming company

Gaming revenue grew 122% YoY to INR 656 crore at a 21.5% EBITDA margin. Gaming contributed 82% of consolidated revenue and effectively all EBITDA before corporate costs. Mobile grew revenue 167% to INR 550 crore. PC & Console grew EBITDA 61%, with Curve’s margin expanding to 38.9%. Offline grew EBITDA 29% on flat revenue, with margin rising to 26.2%.

Bluetile and BestPlay: Scale and Capability

In their first two months as part of Nazara, Bluetile and BestPlay generated revenue of INR 329 crore, up 49% over the same period last year. EBITDA grew 64% to INR 64 crore, and margin expanded to 19.4% from 17.5%. Growth came from rapid product iteration, expansion into new markets, AI-automated user acquisition and cross-promotion across the portfolio. Bluetile’s leadership team holds 5.8% of Nazara, aligning its interests with those of all shareholders.

The existing portfolio keeps compounding

Growth in existing gaming businesses was underpinned by strong content engines across the studios. WildWorks grew revenue 41% and EBITDA 39% on new Animal Jam content, including a Monster High-themed season. Kiddopia grew revenue 21% on a 5% rise in subscribers and an 8% rise in average revenue per user, and is reinvesting in user acquisition to accelerate further gains. Fusebox launched Traitors and a new Big Brother season. Love Island: The Game ranked #1 among free role-playing games on the US App Store in July. Curve grew revenue 27% and EBITDA 61%, driven by the launch of Sovereign Tower, rated “Overwhelmingly Positive” on Steam, the mobile debut of Wobbly Life at #3 in its genre on the App Store and Google Play, and continued momentum at Human Fall Flat, which has passed 60 million players in its 10th anniversary year.

One platform, every studio

Bluetile’s core capabilities now operate as group Centres of Excellence (CoEs) across Marketing, Data, Product and Technology, each led by a dedicated head. AI is embedded in all four. In a single month, the Marketing CoE produced more than 290 ad creatives for three studios. A single AI-ready data stack powers analytics across the group, and all studios share a common prioritisation and greenlight process. Every new game and acquisition now plug straight into proven systems, compounding the advantage with each addition.

Raymond A. Stauffer, CEO, Nazara Technologies, said: “This quarter demonstrates the company we are building: a portfolio of high-quality games on a single, shared platform. Bluetile and BestPlay grew EBITDA 64% in their first two months as part of Nazara, while sustained investment in content delivered organic growth of 11% in revenue and 17% in EBITDA across our existing gaming studios. Of greater long-term significance is the platform we have built. Every studio now draws on group Centres of Excellence in marketing, data, product and technology, each underpinned by AI. Every game we launch and every studio we acquire benefits from proven capabilities from the outset, enabling us to scale faster and more profitably.”

Leadership strengthened

Nazara significantly strengthened its leadership team, adding global gaming expertise at the top and strengthening India team. Raymond A. Stauffer, Founder of Bluetile and BestPlay, took charge as CEO on 16 September 2026. Mithun Sacheti, Founder of CaratLane, joined as Executive Director on 12 October 2026, subject to shareholder approval. Arun Agarwal, former Global CFO of Ness Digital Engineering, joined as Chief Financial Officer on 16 October 2026. Together, the team brings the global gaming, operating and financial depth to scale Nazara’s platform.

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